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Business News/ Money / Personal Finance/  Vinay Paharia joins PGIM India Mutual Fund as its new CIO
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Vinay Paharia joins PGIM India Mutual Fund as its new CIO

Srinivas Rao Ravuri and Aniruddha Naha will head new international business and AIF business, respectively

Vinay Paharia joins PGIM India Mutual Fund as its new CIO.Premium
Vinay Paharia joins PGIM India Mutual Fund as its new CIO.

Mumbai: Vinay Paharia, former chief investment officer (CIO) of Union Mutual Fund,  has joined PGIM MF as its CIO. Srinivas Rao Ravuri, former CIO-equities, will set-up PGIM India’s new international business that would manage foreign investors‘ money in Indian equities.

PGIM India MF’s head of equities Aniruddha Naha will lead its new alternative investment funds (AIF) business as CIO-Alternates.

“Our decision to invest in the new businesses in India is aligned with our growth strategy for the region, as we see growing opportunities in both the domestic high-net-worth and retail markets driven by wealth generation, as well as offshore investments in India. PGIM India has achieved significant growth over the last few years. The wealth of experience and track record of our local leadership and investment talents give us immense confidence in the next stage of growth,“ said David Chang, vice chairman – Asia, PGIM Investments.

PGIM, the global investment management business of Prudential Financial Inc, has committed additional long-term capital to PGIM India subsidiary for the new businesses.

As its CIO, Paharia will oversee equities and fixed income businesses. Puneet Pal, who is head of fixed income, will report into Paharia.

“We are delighted with the start of International and AIF businesses as this completes our offering to Indian investors as well as to international investors who are actively considering India as a portfolio choice. I feel humbled by the continued commitment of our parent PGIM, which for us is a vindication of our differentiated strategy and the confidence showed in us by an increasing number of investors, both retail and institutional. I am quite excited that our immense leadership talent will lead the new businesses and that we are getting an outstanding new talent in Vinay to lead our mutual fund businesses. Together we remain committed to bring the most optimal products and services to our clients," said Ajit Menon, chief executive officer, PGIM India MF.

“I am delighted with the wonderful support of our mutual fund clients, which has encouraged us to embark on a broader-focussed PGIM India 2.0 with a capable investment team in place. We are excited about the opportunities to leverage PGIM’s global capabilities, including their leadership in the real estate space, at an appropriate time to build further relevance for our customers and partners," said Ravuri.

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Published: 28 Jan 2023, 02:31 PM IST
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